Zcash targets July 28 launch for Ironwood network upgrade

Ironwood Upgrade Scheduled for July 28

Zcash’s next upgrade will replace the once-compromised Orchard pool and may offer clues about whether counterfeit tokens were created via a recent bug.

Source: Sean Bowe Shielded Labs had floated delaying Zcash’s Ironwood upgrade, warning that ecosystem participants such as exchanges, mining pools and wallets would not have enough time to prepare their systems for a late-July mainnet activation. Bowe’s latest comment confirms the upgrade will go ahead one week later than its earlier target date of July 21.

Related: Anthropic's Mythos AI finds no more 'serious' bugs in Zcash: Wilcox

Evidence from the Orchard Vulnerability

In June, Shielded Labs said Ironwood may provide evidence about whether the Orchard vulnerability was ever exploited.

“As users migrate funds from the existing Orchard pool to the new pool, any hypothetical counterfeiter faces a choice: attempt to move counterfeit funds and risk exposing their existence, or leave them behind and risk being unable to move them in the future.”

Market Impact and Supply Milestone

ZEC plummeted 50% to $299.25 from $602.68 after the disclosure of the Orchard bug on June 3. The price of ZEC has made a partial recovery in the weeks following and is trading at $492.61 at the time of writing.

Zcash crossed a major monetary milestone this week, with more than 80% of its maximum 21 million ZEC supply now issued. A post from ruZCASH on Monday shows that there is now 16,806,723 ZEC in supply.

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